Healthcare Services Group, Inc. $HCSG Shares Purchased by Janus Henderson Group PLC

Key Points

• Janus Henderson Group increased its Healthcare Services Group stake by 5.5% in the first quarter, acquiring 46,427 additional shares for a total holding of 890,035 shares valued at approximately $16.5 million. Institutional investors and hedge funds collectively own 97.97% of HCSG.
• Analysts remain generally positive, with five Buy ratings and three Hold ratings producing a “Moderate Buy” consensus and an average price target of $26.20. Benchmark and UBS both raised their targets to $30.
• HCSG shares opened at $23.41, near their 52-week high of $25.75, after the company reported quarterly EPS of $0.32, beating consensus estimates of $0.22, while revenue of $470.81 million was roughly in line with expectations.

Janus Henderson Group PLC grew its stake in shares of Healthcare Services Group, Inc. (NASDAQ:HCSG - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 890,035 shares of the business services provider's stock after buying an additional 46,427 shares during the quarter. Janus Henderson Group PLC owned about 1.30% of Healthcare Services Group worth $16,510,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System increased its stake in shares of Healthcare Services Group by 35.1% during the first quarter. California State Teachers Retirement System now owns 91,270 shares of the business services provider's stock valued at $1,693,000 after acquiring an additional 23,700 shares during the period. Royal Bank of Canada boosted its stake in Healthcare Services Group by 33.1% during the 1st quarter. Royal Bank of Canada now owns 393,601 shares of the business services provider's stock valued at $7,301,000 after purchasing an additional 97,833 shares in the last quarter. Empowered Funds LLC increased its position in shares of Healthcare Services Group by 123.6% during the 1st quarter. Empowered Funds LLC now owns 215,824 shares of the business services provider's stock valued at $4,004,000 after purchasing an additional 119,290 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Healthcare Services Group by 40.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 29,711 shares of the business services provider's stock valued at $551,000 after purchasing an additional 8,604 shares during the period. Finally, Quantinno Capital Management LP raised its stake in shares of Healthcare Services Group by 29.4% in the 1st quarter. Quantinno Capital Management LP now owns 37,682 shares of the business services provider's stock worth $699,000 after buying an additional 8,564 shares in the last quarter. 97.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HCSG. Benchmark upped their price objective on Healthcare Services Group from $28.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of Healthcare Services Group from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, July 28th. BMO Capital Markets upped their price target on shares of Healthcare Services Group from $22.00 to $24.00 and gave the company a "market perform" rating in a report on Thursday, April 23rd. UBS Group raised their price objective on shares of Healthcare Services Group from $27.00 to $30.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Finally, Wall Street Zen cut shares of Healthcare Services Group from a "buy" rating to a "hold" rating in a research note on Saturday. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $26.20.

Healthcare Services Group Stock Up 0.5%

HCSG opened at $23.41 on Tuesday. The firm has a market cap of $1.61 billion, a PE ratio of 13.61 and a beta of 0.81. The business has a fifty day simple moving average of $22.93 and a 200-day simple moving average of $21.13. Healthcare Services Group, Inc. has a fifty-two week low of $13.06 and a fifty-two week high of $25.75.

Healthcare Services Group (NASDAQ:HCSG - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The business services provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.22 by $0.10. Healthcare Services Group had a return on equity of 18.97% and a net margin of 6.59%.The company had revenue of $470.81 million for the quarter, compared to analyst estimates of $471.22 million. During the same period in the previous year, the firm earned ($0.44) earnings per share. On average, equities research analysts anticipate that Healthcare Services Group, Inc. will post 1.01 EPS for the current fiscal year.

About Healthcare Services Group

Healthcare Services Group, Inc NASDAQ: HCSG is a leading provider of support services to healthcare facilities across the United States. The company specializes in environmental services, including housekeeping and sanitation, as well as linen and laundry management. In addition, Healthcare Services Group offers dietary and nutrition services, catering to hospitals, skilled nursing facilities, assisted living communities and other long-term care providers.

Founded as a family-owned business in the late 1970s, the company completed its initial public offering in 1997.

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